> So the total amount of money hasn’t increased, it’s just the amount of physical dollar bills that has increased, as digital money becomes physical. Isn't thi

> So the total amount of money hasn’t increased, it’s just the amount of physical dollar bills that has increased, as digital money becomes physical. Isn't this just splitting hairs? The amount of money actually circulating has increased then. Money that was previously just sitting in the bank, not circulating in the economy now is. Doesn't that have an impact on inflation? It might not be the sole explanation, but given the jump from 6.75 trillion to 18.4 trillion from Jan 2021 to Feb 2021 in the M1 money supply, it would seem odd if there wasn't any. And the salient point of GP was that this isn't even being discussed.